I see so many startups these days excited to get their idea off the ground with passion and energy. They have a great product or service and are determined to market these to the right audience.
Unfortunately, I’ve also noticed that most startups don’t have the time, resources, and experience to strategise their marketing quite like their business deserves.
The latest research shows that about half of business owners lack a defined marketing plan. Not only that, but 58% spend only five hours or less on their marketing efforts each week.
It’s not surprising. You can’t pull time and resources out of thin air. Marketing is a full-time job.
Marketing mentors can help fill the gaps with the experience, dedication, and time business owners lack to push their reach to the next level.
For Startups, the Struggle of Modern Marketing Is Real
Did you know that poor marketing is one of the top reasons small businesses and startups fail? It doesn’t have to be that way!
1. They Get Blinded by the Awesomeness of Their Product or Service
I’ve noticed that a lot of new brands throw all their effort behind their product or service. That’s great! But they kind of expect the product to sell itself and it just doesn’t work like that.
I’d like to see new businesses strategise a bit more on things like
- Who is their audience and which problems do they face?
- Is there a real market for their product? How big is it?
- How do they differentiate from competitors?
It’s a big mistake to wait until your website is complete to start strategising your marketing strategy. Instead, I recommend building hype, creating authority, and finding your perfect audience first so you can create a website and marketing strategy just for them.
2. Resources Are Spread Too Thin
Facebook, YouTube, investor content, email – where to start?! I know, it’s easy to get overwhelmed trying to be everywhere online at once.
You only have so much time and a finite budget. So, it’s important to concentrate your efforts on the most important aspects.
I recommend learning where your target audience hangs out online and sticking to two or three main channels. Marketing mentors can be useful for nailing down the right strategy here.
3. Content Lacks That Wow-Factor
63% of senior execs say the content they consume is too generic. According to Salesforce, 84% of consumers and a whopping 84% of B2Bs say the secret to winning their business is treating them like a human rather than just another number.
We all want that, right?
Personalised content that’s timely, relevant, and nuanced is the key here. I know that with the right data and research, this is an easy fix!
4. Missing Integrated Marketing Strategy
Digital marketing should create a seamless experience across multiple platforms and devices: social media, email, landing pages, etc.
It’s easy to create an omnichannel experience if you have laser-focused precision, but I know most businesses don’t have the time or resources to pull it off quite as their audience expects.
5. Lacking a Word of Mouth Strategy
82% of consumers research online reviews before visiting a local business. Meanwhile, 76% of people trust online reviews like they’re coming from friends or family.
A word-of-mouth strategy for generating genuine reviews and online hype should be a big part of any startup demand gen and lead gen marketing.
6. They Don’t Have Time to Optimize Social Media Advertising
Sponsored social media ads can be effective in reaching the right audience. Sadly, I know that businesses spend billions on social media each year for dismal click rates of less than 1% on average.
Too many new businesses waste money because they aren’t using it as effectively nor efficiently as they can.
Understanding how to optimize Facebook or LinkedIn advertising is a challenge all its own. That’s why the big guys hire dedicated social media marketers – or full teams! I don’t recommend it if you’re just starting out with a minimal budget, but marketing mentors can help.
7. They Stop Tracking the Competition
Most brands understand that they need to differentiate themselves from their competition, but they don’t always have access to the right intel.
I’ve observed that many startups analyse competition as part of their initial market research but stop, simply because they don’t have the time and resources to keep tabs all the time.
How Can Startups Benefit from Marketing Mentors?
Every business is unique. Taking an online marketing course or reading a book doesn’t provide the personal touch that your business needs to stand out.
Instead, I recommend online training with marketing mentors because the lessons are tailored for every business. Plus, mentoring provides exercises and worksheets to put marketing plans into action right away.
Mentors are trained and educated in specific industries and the technologies startups need to build visibility among the right audiences. They have that grassroots experience, starting from scratch and working with shoestring budgets.
Our mentors have real-world marketing experience and are leading practitioners in their respective fields. They have been in your shoes and are prepared to offer relevant and practical guidance to help you succeed.
Wondering if Marketing Mentors is right for your business? Get in touch with us today for more information about our mentoring programmes